Gold futures finished higher on Friday, tallying a gain of more than 1% for the week. Prices had briefly fallen below the key $1,800 mark during the session, after data showed a bigger-than-expected monthly rise in U.S. jobs. The “surprisingly strong nonfarm payroll report sent expectations soaring that the [Federal Reserve’s] near-term tightening will be much more aggressive, said Edward Moya, senior market analyst at OANDA. April gold rose $3.70, or 0.2%, to settle at $1,807.80 an ounce after tapping an intraday low at $1,792.10. For the week, prices based on the most-active contract rose 1.2%, FactSet data show.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
